|
Q:
As of what
date was ETI repealed? A:
The ETI legislation
(Sec. 114) was repealed, effective December 31, 2004,by the 2004 Jobs
Act. The legislation, however, contains transition rules that permit
limited ETI benefits in 2005 (80%) and 2006 (60%). There are also ETI
transition rules for long-term contracts, like aircraft leases. 2005 - 2006 3% x Qualified Production Activity Income (QPAI) 2007 - 2009 6% x Qualified Production Activity Income (QPAI) After 2010 9% x Qualified Production Activity Income (QPAI) |